good report! Worth a read

https://klse.i3investor.com/servlets/staticfile/430111.jsp

use internet explorer to open. The firewall from google chrome block
s it from opening.

https://factsetpdf.maybank-ke.com/PDF/190311_CN__54383bbe02274df987f791ff3df72d28.pdf

MBB (TP: RM7.50)

SInce there are so many sour grape bloggers here, perhaps, i think a lot of you might not aware that public bank was the first that initiated on MFCB at the entry cost of RM2.34. Try to dig out the the first initiation report in 2014. All these pundamental investors for the sake of their own personal interest, are trying to mislead the public by using P/E for valuing power company. Unlike manufacturing sector like glove, there is NO one in the market use P/E valuation for power company (try to refer to Malakoff, TNB, cypark, YTL Power) . It should be based on DCF valuation because power purchase agreement is a concession that takes a long term period for commitment, which also provides steady, recurring income to the company. As this company is a conglomerate, it is SOP based valuation that consists of DCF, P/E for all its businesses.... Perhaps, can compare the valuation with MBB report (TP: RM7.50 only), who is also covering the company.

1 month extension given to all public listed companies due to Covid-19. It will be out on 16 June

The RHB report is a "non rated" call. It is not an initiating coverage. Tht's means there is no responsibility for them to follow up this counter anymore. It is just an one-off report.

pls refer to the operating cash flows forecasts from the analyst research report. The operating cashs flow easily rakes in more than RM280m a year starting from this yr.

follow the SELL group to Holland?

Haha.. How come the share price rebounded stronger and stronger when the sour grapes here keep calling for sell? It has rebounded nearly 31% over the last one week. As the higher dividend of 30sen/year going to distribute every year for the next 25 years, the dividend yield is 7.1% currently. I can't see any reason why it should drop further.

Even the top management also started adding more share when it was around RM3.20 level.

https://www.theedgemarkets.com/article/edge-best-call-awards-2019

Public Investment's top picks are outdated. The one in the list is 2019 top picks

https://klse.i3investor.com/blogs/PublicInvest/248487.jsp

https://klse.i3investor.com/blogs/PublicInvest/243411.jsp

https://klse.i3investor.com/blogs/PublicInvest/243411.jsp

https://klse.i3investor.com/blogs/PublicInvest/243411.jsp

This stock already has sizeable foreign shareholding. Just look at who is no.2 shareholder

pjseow. U got the point. Silience is the best tool of communication. Despite all the says and arguments, it is a matter of time to know the truth. It will be known soon.

Soon, everyone will find PBB's target price is too high. XOXO

I am sure most of us including the investment gurus had the experience of making the wrong calls in the stock mkt. Research analysts including the high profile also cannot spare from it as they do make mistakes as well. If all the calls are judged 100% accurately, that is called "God of stock market". What is the point of keep criticising weakness in one counter but no credit to the good call? It also shows "the sour grape" personality in a person. Being an investor, there is an investor behaviour to adopt, otherwise, u will lose money "forever". At the end, a succesful investor measures ur gains outweighs the losses.

The MFCB recommended by Public Invest started since around 2014 at around RM2.10, are u trying to say their call is wrong throughout the years after rising more than 120%? If u randomly pick any of the MFCB reports, it nvr fails to give a "BUY" call and it comes with an increasing TP.

If MFCB touches RM5 level in less than 2 mths, hopefully, these bunch of "sour grape" investors will disappear from the chat here.

Firstly, u need to look at capex for the construction project and whether the balance sheet can undertake such a mega project or not. Otherwise, the fund raising exercise and borrowing cost can kill their financials. 1MW coal-fired/hydro = USD1m-2m. Secondly, how transparent and prudent the management is. If u refer to 2017 annual report, they even managed to get a cost reduction for the project from USD417m to USD401m and is looking to announce a lower capex with the lower interest rate. I think a lot of us might not hear of such thing called "project cost reduction". What we normally hear is "cost over-run", eg. the Malaysian company, which has a power plant in India.... If there is a cost-overrun, the losses are all borne by the shareholders.

Well, any company can make a big shout by venturing into the power business, but how transparent they are with the construction progress and whether they are on track with the timeline is another key concern. Otherwise, it is going to be an white elephant. If u read through all the quarterly results in MFCB, they will update us the progress of the project (work scope, % of the progress and next action....)

Attn to Reader 4444:

Firstly, u must understand what is construction profit?

Since the commencement of the construction of Don Sahong Hydropower project, by accounting practice, it is required to recognise construction profit (paper profit) from the development progress during the construction period based on their agreed net margin of 28%. That is what had contributed to the group's strong earnings over the last 4 years. As the construction is nearly complete, the % of construction progress is getting smaller. I would expect the upcoming 2H results would see much smaller numbers compared to a year ago as the construction of the power project already at the tail-end.

Once the PPA kick starts in early-2020, the proceeds received from the electricity sales would be known as real cash-flow profit (the real money), that is the time where investors will enjoy annual 30sen dividend for the next 25 years.

If u guys look back all the MFCB reports, the Public Invest has always maintained its Buy call. It started covering when it was around RM2.10 level in 2014. But, how many readers would have held the stocks until today.

FMR won't buy back la. they are sitting with a gain of more than 250%. There is a mandate to sell once it reaches the certain level of gains. Same as cut loss, once it triggers the level, it is required to sell. That is the professonal investment practice adopted by fund management companies

The FMR LLC has been holding since 10 yrs ago with the entry cost easily at only RM1-1.60. Based on the current prices, profit taking from them is normal given the huge gains they have made in this stock.

good call from the analyst!

大股东CJ韩国速递亚洲助力‧世纪通运进军大马速递业务
（吉隆坡21日讯）世纪通运控股（CENTURY,7117,主板贸服组）在大股东CJ韩国速递亚洲助力下，磨拳擦掌进军大马速递业务，并冀望成为后者在东南亚的物流枢纽。

冀成东南亚物流枢纽

世纪通运控股执行董事叶邱顺在股东大会后向《星洲财经》表示，CJ目前在探讨打造世纪通运控股成为东南亚物流枢纽的可行性，惟决定权依然在CJ手上。

叶邱顺表示，该公司首家速递业务分行最快将于今年7月或8月投入服务，目前锁定柔佛或槟城作为首个分行地点。

他指出，在巴生河流域则将会与CJ大马合作，一同进行速递服务。

他表示，进军速递领域，需要投入较多的资金，普遍需要至少500辆货车及在全马各地皆有分行，该公司将按部就班，放眼在两年内，服务范围涵盖西海岸，较后则部署进入东海岸市场。

叶邱顺相信，在CJ的羽翼及电子商务增长潜能看俏下，将能在速递领域分一杯羹。


他坦言，CJ崛起成为大股东，能够为世纪通运控股带来增值，该公司不单在早期派遣一支为数10至15人的团队到来大马为速递领域进行研究分析，更分享其在韩国的技术及科技。

今明年资本开销料1.5亿

叶邱顺表示，该公司不排除在未来，除了提供货车速递外，也推出三轮摩托车速递服务，惟尚在探讨中。

叶邱顺指出，今明两年的资本开销料为1亿5000万令吉，分别是2500万令吉添购速递货车（以载货量1公吨为主）、1亿令吉增建仓库、500万至1000万令吉作为翻新仓库，剩余则是提升电脑系统。


叶邱顺指出，世纪通运控股目前尚在寻找适合并购的公司，包括速递、货车公司等，至目前为止尚未寻得适合的公司。

他认为，在未来3至4年，世纪通运控股业务依然以综合物流、石油物流及采购物流为主。

叶邱顺相信，在原油价格回稳的带动下，2017财政年的营业额及净利表现将书写比2016年更好的表现。

2016财政年，世纪通运控股净利下挫36.87%至2017万令吉，营业额则上扬0.81%至3亿零28万9000令吉。

文章来源：
星洲日报／财经·文：刘玉萍·2017.04.22

Yup. Very good report. So comprehensive and detailed research!

http://www.stockhut.com.my/news/51933.

they have 2 power stations, Tawau and China. The one expires in 2017 is Tawau power station while the one expires in 2022 is China power station.

PIVB raised its TP for MFCB to RM3.16!

but if it is RM1.80, upside not much leh. unless it is pivb's TP of RM2.18.. Haha

PIVB just initiated today with a BUY call and TP of RM1.90

90% of its revenue comes from plantation segment n fully benefit from stronger CPO prices and is not affected by El Nino. healthcare only makes up 10% of its revenue, which is relatively small. The group has RM320m invested in high yield bond, generating RM33m, easily makes up 50% of the group's earnings. So easy.

We see opportunity in TDM at current levels as the share price is trading at undemanding valuations of only a 13x PER despite the decent 1Q results announced recently. We maintain our Outperform call with a higher TP of RM0.85 after fine-tuning our numbers and rolling over our valuations to FY17. Despite weaker FFB production across the industry, TDM’s has been growing as its plantation area is less affected by the extreme dry weather condition. Riding on the FFB growth coupled with stronger CPO prices, we expect TDM to deliver a good performance this year

PIVB Research

just declared 1.2sen dividend. waiting for AGM's approval

will see some nice movements today

Cross trade is between 2 funds are transacted at an agreed price. tht's y they push it down to 0.765 to transact. u can see there were 2m shares crossed intra-day yesterday. Basically, no point only one fund keeps shooting bullets. U need some strength from other funds as well. But u need a base for tht.

cross trade at 0.765 for 2m shares. Likely will see movements soon.

http://biz.sinchew.com.my/node/133372?tid=6

Thanks... Hopefully PIVB's TP will re-rate further soon..

Is public Investment bank's target price of RM0.83 considered conservative? Any further re-rating catalyst?

Bonus issue. I LOVE it!

Another Prolexus and Magni-Tech??

Stock pick:
1. MWE (3921) – Boom Times
Last closing: RM1.39
Fair Value: RM2.90
Dividend yield: 1.2%, NTA= RM2.76

Why should we invest?
- Revenue breakdown: textile (61%), telecommunications (22%), property (1.4%), plantations (2%) and others (14%)
- Net debt stood at RM92m, but has RM437m invested in Magnum, MPHB Cap and K-Europlus, which collectively make up RM1.89/share, even higher than current share price. Meaning that MWE’s investors are getting those liquid assets for free as they are significantly overlooked

- 4 Key Growth Drivers:-
i) Expecting decent earnings growth in the upcoming results backed by upbeat outlook on textile business,

ii) Completion of 50% capacity expansion by June in Vietnam textile manufacturing plant, which is expected to bump up its group earnings by 20%-50% over the next 3 years,

iii) Garment sales are expected to bump up ahead of the UEFA European Championship held in mid-June, the second most watched football tournament in the world,

iv) Key beneficiary under the TPPA deal, which include Vietnam and Malaysia as more orders will come in due to tariff exemption of 30% in US (85% of its textile sales come from US market) and

v) 25% stake in K-Euro- which will see more recurring earnings growth coming through West Coast Expressway as well as Bandar Rimbayu project, a RM10bn mega project

Stock pick:
1. D&O (7204) – Riding on US Dollar Strength
Current Price: RM0.35
Target Price: RM0.47
NTA= RM0.20

Why should we invest?
- Established in 2004, principally involved in research & development, design and manufacturing of Light Emitting Diodes (LED) for i) automobiles, ii) general lighting and iii) televisions.
Net cash: RM55m or 26% of current market cap
- 3 Key Growth Drivers:-
i) Net beneficiary of strong US dollar. D&O’s sales are predominantly in US dollars as its LED products are export-oriented with Asian markets making up 72% followed by Europe (20%), US (5%) and others (3%),
ii) 30%-40% earnings growth over the next 2 years. Riding on the continuous capacity expansion and strong US dollar, D&O is expected to achieve admirable earnings growth of 30%-40% over the next 2 years.
iii) Subsidiary company valued at PER of 36x or market value of RM650m (compared to D&O’s market cap of RM360m). Epistar (Market Capitalization: RM3bn) has recently taken up a 10% stake in D&O’s 68.7%-owned subsidiary, Dominant Opto Technologies SB for RM65m or a healthy annualized FY15 PER of 36x.

Mega First’s (MFCB) posted a sterling set of results for FY14 with core net profit standing at RM73.8m, surpassing our forecast by 15% after stripping out i) one-off impairment charge of RM10.9m on an associate, ii) RM2.5m loss form quoted investments and iii) RM7.1m fair value gain on investment properties. The better-than-expected results were driven by improved contributions from all three core businesses, namely, power (+12.3%), resources (+1.4%) and property (+63.8%). Meanwhile, a final tax-exempt dividend of 5sen was proposed for the quarter, making up 8sen for FY14 (FY13: 7.5sen). We reaffirm our Outperform call and target price of RM3.85 which implies a healthy potential upside of 55%.

u can try to access under the public bank internet banking> equity research on the top right. U can click on each type of report except company reports.

Mega First’s (MFCB) diversified geographical exposure has safeguarded the company’s prospects in the face of weakening economic fundamentals and the depreciation of the Ringgit. Our estimates show that the weakening of Ringgit could potentially lift the company’s FY15 earnings by 7%-10%. We expect decent results from 4QFY14 (expected to be announced on 26 Feb) onwards. Based on our SOP-derived TP of RM3.85, we see deep underlying value in the company as it is only trading at a forward PER of 7.5x

U can access to their reports if u have a cash saving account.

u can check the bursa announcements for the historical dividend payment. Every year somewhere in early Oct, they will announce 7sen dividend and the ex-date will likely come in early Nov.